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In: Economics

What is the difference between risk and uncertainty. Please site a source

What is the difference between risk and uncertainty. Please site a source

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Expert Solution

Risk is associated with an uncertain event where there are chances of success and failure. There are positive and negative risks where the former is associated with the outcome being positive or negative returns.

Uncertainty on the other hand exists when the event lacks complete certainty and there is no information available on the event.

Rahul Sunny answered 3 years ago
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